All Forum Posts by: Khang Tran

Don't forget to take into consideration the county property tax rate.

A reverse exchange is quite complicated to pull off and usually costs about $10,0000 additional in fees and costs. So its not quite as easy as the above would suggest. And the mezzanine financing can also be quite expensive in terms of loan costs and interest rate.

So a reverse exchange can be a good idea if you find the perfect replacement property and have not had time to sell your relinquished property yet. But that is the only time I would recommend doing a reverse given the complexity and costs. Hope this helps.

I have a house coming to market For sale By Owner. I want to net $272,000. Looking for a selling agent to bring me a buyer I will assign it to them.  If you can sell above $272,000 that difference is your commission. I will split escrow/title fee with buyer. Will favor non-contingent offers or no appraisal contingency offers. Title Company with Placertitle. COE at 30 days is acceptable considering how long it takes to get a loan approval now a days.  This is a completely rehab 3/2 home in Sacramento approx 1100sqft with new roof, new floors, new electrical and panel, new HVAC, comes with appliances, new stackable washer and dryer, fence and new windows.  Buyer can select exterior paint color or opt for seller credit of $1000.00. Let me know if you want to set up preview you may bring buyers with you but please send covid advisory.  I still have a few more touches to complete in the kitchen before pictures will be available, but you are welcome to come.

I have bought two properties with tenants.  The benefit is you don't have to do anything immediately to start collecting rent.  If the property is managed by a property manager even better the manager will give you all the details.

There is a BRRR Calculator (free to use 5 times) that will provide you with almost all the data needed to get an answer to this. What is left is whether you want to take on the challenge of staffing and overseeing your project with GCs and nailing down your costs and arv.

Hello everyone, I am considering investing in many single family homes outside of California. I plan to purchase/fix up 5 small homes at around $60,000 each and will rent them out after repairs. I chose 5 because I heard that you can refinance a portfolio of 5 properties in it. Do any of you have experience with portfolio refinance cash outs? Who do you use? What are the average rates? I have heard people say that this doesn't exist but I have heard about doing this in a bp podcast. I haven't sat down with a bank yet to talk about this but wanted to get your experience.

Go into the local planning department when it opens with a parcel you want to buy. Get a ticket or set an appointment and they will walk you through all the costs that the city charges you. The other fees you need to talk to the contractors/engineers to get a quote. 

Regardless of if you go with a broker, a mortgage bank or an institutional bank, the 3 determining factors of getting a loan are:

1- Your credit score (Min of 660)
2- Proof of income
3- Proof of funds

I recommend Eddie Cervantes. A quick google search for Eddie Cervantes Sacramento will pull him up for you.

Here is an example of costs on a brand new construction in Natomas

Purchase price: $450,000
Mello Roos ~ $300/mo
Hoa ~ $120/mo
Flood Insurance ~ $40/mo

Hey Mike,

It seems like you have a lot of questions that are very important to the success of your endeavor. I flip homes in Sacramento, so I understand the flip market. However, the consultation you are looking for is usually an expensive one. I may recommend a real estate consultant who works for Lyon Real Estate, who may offer you a free consultation to start. If you are interested, please PM me for contact information.